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Swiggy ready to make a splash: IPO to open on November 6, share price starts at ₹371 – check details

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Swiggy ready to make a splash: IPO to open on November 6, share price starts at ₹371 - check details

Swiggy's initial public offering is scheduled to launch on Wednesday, November 6, and will remain open for subscription until Friday, November 8.
The share price for the public issue has been set between Rs 371 and Rs 390.
The IPO comprises a fresh issue of 11.54 crore shares and an offer for sale of 17.51 ​​crore shares, with a target to raise Rs 4,499 crore from the fresh shares alone.
Investors can apply in a minimum lot of 38 shares, which would require an investment of around Rs 14,820 at the upper price band.
The allotment of shares will be finalized on November 11 and the shares will be credited to the accounts of successful applicants by November 12.
Swiggy shares are expected to be listed on BSE and NSE on November 13.
The company plans to use the proceeds from the IPO to invest in its subsidiary Scootsi, manage debt, expand its dark store network for faster delivery, and cover related lease costs.

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